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May 22, 2007 (Recessed Meeting)
<br />Page 380
<br />There was a general discussion and consensus on the need to begin
<br />discussing a new courthouse and parking deck in the fall of 2007. Mr. Day
<br />reported preliminary -estimates would be prepared and presented on May 23,
<br />2007.
<br />Mr. Downs also commented on the following issues: the need for
<br />additional libraries,. senior centers and parks throughout the county in the
<br />next few years; whether or not the county's policy on libraries should be
<br />continued; and the possibility of combining senior centers and libraries into
<br />a single building in the future. Mr. Day pointed out that changing the
<br />policy may be considered unfair by the communities that built the existing
<br />libraries. Vice Chairman Juba requested information on prior funding for
<br />libraries.
<br />Mr. Day also commented on the unsuccessful efforts to locate a facility
<br />that is suitable to the Board of Elections (BOE); the possibility of
<br />acquiring an existing building on Cabarrus Avenue; and existing parking
<br />issues for the BOE.
<br />Five Year Plan - Proposed Financing Sahedula
<br />Pam Dubois, Deputy County Manager, reviewed the phasing of the 5-year
<br />plan in conjunction 'with the FY 08 CIP for Cabarrus County Schools and
<br />Kannapolis City Schools. Phase 1 of the Financing Schedule totaled
<br />$84,750,000.00; Phase 2 totaled $99,700,000.00; and Phase 3 totaled
<br />$101,390,000.00. The total debt issue for Phases 1, 2 and 3 totaled
<br />$280,790,000.00; cash totaling $25,879,753.00 will be used to pay for some of
<br />the school capital projects; $66,760,000.00 of debt will be issued in January
<br />2008, resulting in a grand total of $373,929,753.00.
<br />Phase I Cabarrus County School projects
<br />as follows: AT Allen Replacement - East
<br />Southwest Middle School - $33,345,634.00;
<br />($17,906,980.00); and Northwest Elementary -
<br />debt issue in January 2008 will be used t
<br />Northwest Area High School - ($56,370,765.00)
<br />projects - ($6,759,812.00).
<br />that produce school seats were
<br />of Rt. 601 ($18,211,819.00);
<br />Lower Rocky River Elementary
<br />Odell Area ($20,381,962). A
<br />o continue to fast tract the
<br />and start-up costs for Phase I
<br />Phase I Kannapolis City School projects that produce school seats were
<br />as follows: AL Brown High School Wing Addition - $10,227,779.
<br />Five Year Financial P19n
<br />Pam Dubois, Deputy County Manager reviewed the Five Year Financial Plan
<br />for the General Fund for FY 08 through FY 12, including revenues and
<br />expenses. Total revenues and expenditures for FY 08 - FY 12 were identified
<br />as follows: FY OB - $179,255,591.00; FY 09 - $196,610,709.00; FY 10 -
<br />$220,156,061.00; FY 11 - $237,773,139.00; and FY 12 - $259,269,782.00.
<br />Valuation Growth - North Carolina Research Campus (NCRC)
<br />Brent Weisner, Tax Administrator, presented an estimate of values for
<br />the buildings at the NCRC totaling $987,257,820.00. The breakdown is as
<br />follows: FY 08/09 - $308,312,994.00; FY 09/10 - $219,879,166.00; FY 10/11 -
<br />$299,525,720.00; and FY 11/12 - $159,595,990.00.
<br />There was a discussion on conflicting interpretations by the County's
<br />and Kannapolis' bond attorneys related to minimum assessed values.
<br />Program Funding MatrixS- General Fund
<br />Loretta Lee, Btitdget and Performance Manager, briefly reviewed the
<br />Program Funding Matrix for mandated programs and funding; mandated programs
<br />with discretionary funding; and discretionary programs with discretionary
<br />funding.
<br />Proposed Changes to SuClget Ordinance
<br />Loretta Lee, Budget and Performance Manager, reviewed the proposed
<br />changes to the budget ordinance as follows:
<br />Budget Ordinance Authority Revisions
<br />The following changes to the budget ordinance transfer authority are
<br />recommended to .expedite processing of routine budget amendments or for
<br />further clarification end are underlined.
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